Markets end weak ahead of F&O expiry

Markets end weak ahead of F&O expiry

Discuss Markets end weak ahead of F&O expiry within the General Talks forums, part of the Management Students Voices ( MBA,BMS,MMS,BMM,BBA) category; Wednesday, July 25, 2007 (Mumbai):
The markets ended weak ahead of F&amp;O expiry on Thursday with the benchmark index slipping ...

The markets ended weak ahead of F&O expiry on Thursday with the benchmark index slipping 0.6 per cent or 95 points to settle at 15,699 levels.

In the broader markets, the Nifty shed 0.7 per cent or 32 points. It closed at 4,588 levels.

"I expect the FMCG stocks to move up in the times to come. Colgate-Palmolive, ITC Limited and Hindustan Unilever are good bets in this space," said MB Singh, Technical Analyst, technicaltradersofindia.com.

Leading the pack of losers at the Sensex was Satyam Computer. It tanked over six per cent or Rs 31. Ambuja Cements, ACC, Bajaj Auto, Larsen & Toubro, Tata Motors, TCS, Mahindra & Mahindra, Reliance Communications and Hindalco also lost ground.

However, ITC Limited at Rs 165 levels zoomed 8.9 per cent on the back of strong volumes. NTPC, ONGC, Bharti Airtel, Hindustan Unilever and Infosys Technology also managed to stay afloat.

Autos in reverse gear

After two consecutive days of surge, the capital goods scrips witnessed selling pressure on Wednesday. The BSE capital goods index slipped 2.5 per cent or 338 points.

Canara Bank (down 4.8 per cent), Andhra Bank (down 4.2 per cent), Indian Overseas Bank (down 2.6 per cent), Bank of Baroda (down 2.3 per cent), Punjab National Bank (down 1.9 per cent) and Kotak Mahindra Bank (down 1.4 per cent) were some of the top losers in the banking space.